BAKU, Azerbaijan, October 7
By Tamilla Mammadova – Trend:
The Georgia Innovation and Technology Agency (GITA) held a presentation of the Georgian FinTech Association, chaired by Lasha Eredeli, Trend reports via Georgian media.
“The idea of establishing this association arose long ago, however, the founders thought that it was untimely to set up the FinTech Association amid numerous associations in the financial sector. Though, the FinTech sector has developed essentially and many startup companies were created. Commercial banks have also developed in this direction. Consequently, it was necessary to establish this association,” Eredeli said.
The association will be open for both startups and developed companies. The association will cover several directions, Eredeli noted.
“In general, we plan to assist our country in developing FinTech direction; elaborate legislative amendments, cooperate with the public and private sectors. We will make emphasis on implementing educational projects; cooperate with technology universities and take efforts to direct talented students to FinTech companies”, Eredeli noted and added that the association will act as a communication platform between the public and private sectors.
The FinTech association was created by founders’ financial resources, Eredeli pointed out.
“The association and its website were created by personal financial resources of the founders; however, we will work to achieve our objectives together with the association members. In general, Georgia-based startups face obstacles to take roots on Georgia and international markets. Our objective is to simplify this process, identify investments opportunities for them and foster their cooperation with potential investors,” Eredeli noted.
On October 7, the Georgian FinTech Association and GITA signed a memorandum on cooperation.
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